Global Ship Lease Adds 6% Following Multi-year Charters With Hapag-Lloyd

(RTTNews) - Shares of Global Ship Lease, Inc. (GSL) are up more than 6% in the morning trade on Tuesday after the company said it has entered into new multi-year charters with Hapag-Lloyd for six ECO 6,900 TEU ships.

The company said that the charters are expected to generate average Adjusted EBITDA of approximately $13.1 million per ship, per year; and total Adjusted EBITDA of around $393 million for the six ships over the firm charter period.

The new charters are each for a firm period of five years, followed by two 12 month periods at the option of the charterer, and are scheduled to commence between late 2023 and late 2024.

GSL, currently at $17.80, has traded in the range of $14.62-$30.02 in the past 52 weeks.